CHARACTERISTICS OF A FAILED BUSINESS OWNER

There are 1000’s of new business owners who throw themselves out into the brave new world every year, but like a teenager many think that they know everything, and put off to the bitter end the advice of experienced counsel. We see many books and articles written about the successful entrepreneur, but most of these new titans of industry will fail. Let’s discuss the five main characteristics which can, and will, lead to failure in most business growth environments.

Has a Lack of discipline: This type of owner is perceived as lazy, unaccountable, and cannot be trusted. Initially this personality seemed sincere, but as time moves on they prove themselves to be lesser than ideal for their business venture. These individuals show up when they feel like it, and do not care how much pressure it can put on the rest of the team, and always try to justify their poor behavior. Failure is on the horizon for this Entrepreneur, but deservedly so

Selfish, self-centered and a non-team player: These Entrepreneurs are the greatest of the human species in their minds. They are part of this worlds brightest and most capable business owners, and everyone should bow down to their superiority. Even as a leader of a team they will take credit for every success, but blame the team for every failure. In the world of I,I,I with these individuals they are blinded by the fact that they are the ones responsible for their failure. Their self-centered and selfish nature rarely subsides, and they will have a high employee turnover ratio and subpar personal performances for their entire careers. Stay away from these types of business owners or you will get thrown under the bus for the sake of the non-team player.

Is a know-it-all, one upper and materialistic: These Business mavens know it all. Even when they are wrong they are still right. When someone is talking about recent things they have done or accomplished this individual reminds you that they are better than you be doing something bigger and better. You have a motorhome, and their motorhome is much larger. You are going on a trip and they want to tell you all the great places to go. This mentality has no place in a sales or service industry, and those Entrepreneurs that act like this always will fail until they stop their self-aggrandizing behavior. Shame on these owners, although can be very talented, miss the preverbal boat with their arrogance.

Lack of vision and leadership skills: This business owner is a high percentage of new entrepreneurs. You must have a vision and direction to accurately plot your success, but alas, these business tycoons only care about today, making a quick buck then they are out of business tomorrow. Leadership skills can be learned, but the business owner must be humble enough to learn new things that can make themselves champions in their industries. Lack of vision and poor leadership skills results in a severely flawed and failing business that will be forever forgotten.

Wants to be a leader, but doesn’t want to do the work: This is perhaps the least respected business owner. They would love to make money without working, and they love to take advantage of their employees with no just compensation. These owners will watch you work every day, and never offer to help. Their motto is “do as I say, and not as I do”. They talk about the benefits of being a great leader, but have not grasped the concept that they can never lead if others won’t follow. People will walk on nails to follow a charismatic leader, but they will run from someone who cannot lead. This non-leader is not worthy of your time, and you are much better than that. Be the Me in your TEAM!!

If you are an entrepreneur or business owner do not allow yourself to permanently have any of the aforementioned characteristics. Knowing your strengths and weaknesses is half the battle. Surround yourself with team members with vision, passion and intelligence, and be the Me In Team leader we all aspire to be.